WanFarm Is Live! A New Journey Begins for wanTokens To Join SushiSwap & WanFarm!

Bryan

Published in

Wanchain

4 min readFeb 10, 2021

WanFarm, an Ethereum-based yield farming dapp, is now live!

WanFarm Link: farm.wanchain.org

What is WanFarm

WanFarm is an Ethereum-based staking & farming DeFi application which is initiated by the Wanchain team.

WanFarm aims to promote a series of wanTokens, such as wanBTC, wanDOT, wanXRP, wanEOS, wanTRX, etc., on mainstream public chains to be cross-chain integrated into Ethereum, which contributes sufficient liquidity to these AMM DEXes (e.g., UniSwap, SushiSwap) on Ethereum, and offers richer types of borrow & lend cryptocurrencies for lending dapps (e.g., Compound, Aave), so as to make Wanchain cross-chain assets form a scale effect in the huge and rich Ethereum ecosystem.

At the same time, the increasing usage of cross-chain assets on Ethereum can in turn further accelerate the construction of cross-chain wanBridges. Driven by economic interests, Storeman nodes will continue to widen the wanBridges (that is, to ensure the quota of cross-chain assets by staking more collateral), and build up new cross-chain wanBridges (that is, to make more new assets to be cross-chain transferred to Ethereum by integrating new public chains with Ethereum). Therefore, Wanchain’s cross-chain mechanism and DeFi applications will develop hand in hand and complement each other.

Key Information

Launch Time: February 9th, 2021
WAN Rewards Begin: At the Block Height 11,837,258 on Ethereum (around 4:00 p.m. UTC+8, February 12, 2021)
Staking Preparation Time: February 10th — February 11th
Website: farm.wanchain.org
Farming Mode: WanFarm + SushiSwap dual farming mode. (WanFarm rewards of WAN will start on around February 12, 2021; SushiSwap rewards of Sushi will start in the upcoming days)
Token Pair: WAN-USDT SLP, WASP-USDT SLP
How to Participate: Stake your WAN-USDT SLP tokens or WASP-USDT SLP tokens into WanFarm to earn WAN
Rewards Amount: 40,000 WAN in total for 30 days in WAN-USDT SLP Pool; 10,000 WAN in total for 30 days in WASP-USDT SLP Pool. Due to the dual farming, Sushi rewards will come in the future.
Sponsor: WAN Rewards provided by Wanchain Foundation. Sushi rewards will be provided by SushiSwap in the upcoming days. In the future, the operation and maintenance for WanFarm will be transferred to the community.
Wallets you use: MetaMask, wanBridge Web (this tool is for transferring WAN & wanTokens from Wanchain to Ethereum)
WanFarm contracts on SushiSwap: WAN-USDT pair, WASP-USDT pair

How To Participate

Cross-chain transfer WRC20 to ERC20. You cross-chain transfer your WAN, WASP from Wanchain to Ethereum through wanBridge Web + WanMask + MetaMask, WAN and WASP are crossed from Wanchain to Ethereum. Users may also use Wanchain desktop wallet + MetaMask to cross-chain assets.
Generate SLP tokens. On SushiSwap, you get WAN-USDT SLP tokens by providing liquidity of ERC20 WAN and USDT; similarly, you can also get WASP-USDT SLP tokens by providing liquidity of ERC20 WASP and USDT.
Stake SLP tokens. On WanFarm, you stake your WAN-USDT SLP tokens to the WAN-USDT SLP Pool; you can also stake your WASP-USDT SLP tokens to the WAN-USDT SLP Pool.
Claim WAN rewards. The farming rewards WAN can be generated in each block by staking SLP tokens. And you can claim WAN at any time. The total rewards of 40,000 WAN will be distributed to stakers in 30 days from the WAN-USDT SLP Pool. Similarly, the total rewards of 10,000 WAN will be distributed to stakers in 30 days from the WASP-USDT SLP Pool.
Claim Sushi rewards. Once the Sushi rewards start, you can get WAN rewards from WanFarm as well as Sushi rewards from SushiSwap.
Withdraw SLP tokens. You can withdraw SLP tokens from the Pool in WanFarm at any time.

Full User Guide

For a more detailed tutorial on how to participate, please go to WanFarm User Guide.

About Wanchain

Wanchain is the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in China, the USA, and other team members around the world in Asia, Africa, and Europe.